Park Ninety2 Owners Association

What Park Ninety2 Owners Association's governing documents say

Park Ninety-Two Owners Association is a condominium community in Dallas, TX. You own your individual unit (including interior finishes) and an undivided share of the common elements. The association manages and maintains the common areas and enforces the rules through a board of directors.

• What you own & maintain: You own the interior of your unit (walls, floors, ceilings to finished surfaces) and an allocated interest in the common elements. The association maintains the building structure and common areas. Some items like balconies or parking spaces may be limited common elements for your exclusive use.
• Leasing & rentals: You may lease your unit. Leases must be in writing and a copy delivered to the association within 10 days. Each lease must state that it is subject to the declaration and rules, and that a tenant's failure to comply is a lease default.
• Governance & voting: The association is governed by a board of directors. Each unit gets one vote, weighted by its allocated interest in common elements. A quorum for membership meetings is 40% of total votes. Board meetings are open to owners, but owners may not participate unless allowed.
• Assessments & common expenses: The board adopts an annual budget and levies assessments to cover common expenses. Assessments are a lien on your unit if unpaid. The association may charge transfer fees and provide resale certificates.
• Declarant control & modifications: The declarant (developer) retains special rights until certain unit sales thresholds: it can subdivide/combine units and modify common elements without owner consent, and initially appoints the board. Owner-elected directors take over after 75% of units are sold.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.